At the opening, the BIST 100 index rose to 7,918.31 points, with an increase of 64.95 points and a gain of 0.83 percent compared to the previous closing.
The banking index increased by 0.92 percent and the holding index increased by 0.67 percent. While all sector indices rose, the biggest gainer was communications with 1.55 percent.
On Friday, Borsa Istanbul’s BIST 100 index, which followed a buying-oriented trend, completed the day at 7,853.36 points, with a 0.93 percent increase.
INTEREST REDUCTION EXPECTATION HAS BEEN MADE
Analysts said that the positive trend in global markets, which started with expectations that the US Federal Reserve’s (Fed) hawkish steps had come to an end, continued on the first trading day of the new week.
Analysts also pointed out that Fed officials still maintain their cautious attitude and stated that, based on the pricing in the money markets, it is estimated that the bank may start reducing interest rates as of June next year.
Analysts stated that today, the international investment position and international Producer Price Index (PPI) in the country, the PPI in Germany and the leading indicators index in the USA data abroad, as well as the news flow on the Israel-Palestine conflict, continue to be in the focus of investors. He noted that technically, 8,000 and 8,180 levels in the BIST 100 index are resistance, while 7,730 and 7,590 points are support.